The Chinese MOFCOM reviews a merger in the communication sector, before it is called off because of the length of the merger control review process (Publicis / Omnicom)

Advertising giants Omnicom Group and Publicis Groupe called off their US$35 billion merger on May 8, 2014, terminating a transaction that would have created the largest advertising company in the world. Publicis chairman, Maurice Lévy, and Omnicom CEO, John Wren, said in a joint statement, “The challenges that still remained to be overcome, in addition to the slow pace of progress, created a level of uncertainty detrimental to the interests of both groups and their employees, clients and shareholders. We have thus jointly decided to proceed along our independent paths. We, of course, remain competitors, but maintain a great respect for one another.” [1] While there were a number of reasons the deal collapsed nine months after it was announced, merger clearance—notably delays in securing

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Rebecca H. Farrington, Noah A. Brumfield, George Paul, The Chinese MOFCOM reviews a merger in the communication sector, before it is called off because of the length of the merger control review process (Publicis / Omnicom), 9 May 2014, e-Competitions May 2014, Art. N° 67163

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